Islamabad High Court sends notices over illegal appointment of State Bank Governor – Research Snipers

Islamabad High Court sends notices over illegal appointment of State Bank Governor

Islamabad High Court (IHC) took a notice of alleged illegal appointment of Tariq Bajwa as a governor State Bank of Pakistan (SBP). The IHC issued notices on Monday to the ministry of Finance Secretary and Governor SBP.

Almost 23 senators in the National Assembly challenged the decision of making Tariq Bajwa a governor of SBP. They held secretary finance and Tariq Bajwa responsible for this act. The petitioners claim that appointment of SBP governor Tariq Bajwa which was announced on July 7, 2017, was unlawful.

The petitioners argue that according to section 3(2) of SBP Act, 1956 the bank is a corporate body, “by the name of State Bank of Pakistan, having perpetual succession and a common seal, and shall by the said name sue and be sued.”—The Nation reported.

The petitioners said in the petition, the governor SBP according to section 10(1) of SBP Act, 1956 was the CEO and on behalf of the board of directors, control and direct the entire bank affairs.

Expected Holiday on Nov 9, 2017 in Pakistan

The petitioner’s major disagreement with the appointment is; the qualification criteria has not been met, according to SBP Act, the appointment of governor requires educational qualification, practical knowledge, experience, and competence and perform duties under section 9A which is hard to see in the appointed person.

SBP requires appointment of best available, experience, qualified and competent individual with specialized character to lead the organization and the appointment should be done through open advertisement. All the requirements for appointment were ignored in this case.

The current government in power is involved in the violation of legal requirements and procedures in appointing individuals in all the key positions of the state departments and institutions. The government seeks these opportunities to appoint their hand-picked people on the key positions in order to use them for their own benefits. The head of SECP was another example of this ruthless illegal act, he is not behind the bars facing criminal charges, the petitioners said.